When trying to reduce the degree of inefficiency from an open-access fishery, would a regulation that increases

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When trying to reduce the degree of inefficiency from an open-access fishery, would a regulation that increases the marginal cost of fishing effort by banning certain types of gear or a tax on effort be equally efficient? Why or why not?

a. In the typical economic model of an efficient fishery, would a fall in the price of fish generally result in a larger or a smaller sustainable harvest? Why?

b. Suppose the fishery allowed free access. Would a fall in the price of fish generally result in a larger or a smaller harvest? Why?

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Afiya Hongal

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